Tips for the First-Time Homebuyer

Tips for the First-Time Homebuyer

There is nothing more fulfilling than finally owning your own home. It’s like a rite of passage into “adulting!” But it can also be a little overwhelming, and let’s face it, you weren’t prepared for this by your high school economics class. We’ve put together a...

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What are “seller concessions”?

What are “seller concessions”?

Sellers may offer concessions to incentivize buyers to purchase the home or sweeten the deal. There are usually limits to what a seller can contribute, which will vary based on the type of loan. Typical seller concessions for an FHA loan may include: Loan discount...

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What is “Equity”?

What is “Equity”?

Equity is the investment a homeowner has in their home. To calculate equity, take the market value of the home and subtract any mortgages or liens against the property. The amount leftover is the amount of equity you have in the home. It’s important to build equity as...

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What is meant by “Earnest Money”?

What is meant by “Earnest Money”?

Earnest money is a deposit a buyer pays after a seller has accepted his offer on a home. It’s typically between 1 to 3 percent of the contract price and is held by the escrow company. It is designed to protect the seller if the buyer walks away after the parties have...

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What does “Closing” mean?

What does “Closing” mean?

Closing is when the home sale becomes final. The closing date is set for a time that allows the buyer to conduct due diligence, such as a home inspection, and the lender to complete the underwriting process, including a home appraisal. At closing, the parties execute...

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What Do Real Estate Agents Do?

What Do Real Estate Agents Do?

A buyer’s agent is a licensed real estate professional whose job it is to find buyers their dream home and represent their interests in the sale. Listing agents represent the sellers’ interests in the transaction, prepping and marketing a home for sale. The seller...

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Home Valuation: What is it worth?

Home Valuation: What is it worth?

Schedule your Home Valuation with RE/MAX of Hot Springs Village, call 501-922-3777. Determining the value of a home or a piece of property may be more complex than you expected. Although real estate agents can give you a rough estimate, do not be surprised if a...

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2022 Spring / Summer Escape to the Ouachitas Magazine

2022 Spring / Summer Escape to the Ouachitas Magazine

The New 2022 Edition of Escape to the Ouachitas Magazine by RE/MAX of Hot Springs Village is now in market. Ask for your free printed copy or read it online. This fun magazine offers some great information about living in Hot Springs Village, North America’s Largest...

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